Shares of Bikaji Foods International Ltd rallied 4% and hit a 52-week high of Rs 895 on 26 August after the company announced acquiring a 55% stake in Madhya Pradesh-based snacks and frozen foods manufacturer Ariba Foods.

In its regulatory filing, the company said that this strategic investment worth Rs 60.49 crore, will enable the company to enhance its frozen food production capabilities and expand its market presence.

Deepak Agarwal, Managing Director of Bikaji Foods International, said, “This strategic move not only strengthens our capacity for export growth but also supports our entry into the QSR segment. By integrating Ariba’s state-of-the-art production capabilities, we aim to enhance our frozen snacks and savouries manufacturing.”

The acquisition fits with the plan to increase the company’s portion of frozen food income from the current Rs 30-33 crore to Rs 200 crore over the next three to four years.

Ariba Foods Private Ltd specialises in snacks and frozen goods, including nans, parathas, samosas, sweets, and much more. 

The acquisition will improve Bikaji’s backward integration and guarantee a supply of frozen food. Bikaji intends to partially relocate its current production of frozen snacks and savoury items to Ariba Foods’ Ujjain, Madhya Pradesh. 

At 12: 25 pm, the shares of Bikaji Foods were trading 0.97% higher at Rs 862.95 on NSE. 

Tired of guessing stocks to trade in daily?
Unicorn Signals empowers you with powerful tools like daily stock scans for Intraday, Swing & Investing, Market Predictions and much more. Download the Unicorn Signals app today and take control of your investments!